Excelsior Correspondent
JAMMU, July 12: In a unique initiative to tackle the ever prevalent problem of finance facilitation for small and medium industry, Confederation of Indian Industry (CII) organized a session on Online SME Finance Facilitation Centre.
Farooq Ahmad Andrabi, Minister of State for Industries & Commerce launched the CII SME Finance Facilitation Centre in front of the gathering of industrialists and partner banks and non-banking finance institutions.
Speaking on the occasion, Andrabi said, “while our State has all the required components for industrial growth and excellent air and road connectivity in comparison to other hill States of country, our industrialists lack the much needed exposure in skills development, capacity building, manufacturing practices, financing services etc”.
He said that CII has taken unique initiative in this regard and hoped that more such positive initiatives would be taken for strengthening industry. “I promise our industrialists from this platform that Government is dedicated for the development and positive growth”, he added.
Rajesh Sharma, Managing Director, SRA Food & Beverages said, “MSME is the most vibrant sector and is the largest producers of jobs in the country. It directly affects the economy and exports”, adding “while the Government has taken several measures to promote the SME sector, access to credit remains a major issue”.
Sheikh Imran, Chairman, CII J&K State Council said that CII has taken various steps to provide an ecosystem for SMEs, one such being the launch of CII SME Finance Facilitation Centre, to ensure that SMEs can get access to credit at reasonable rates to empower them to meet their demand for working capital as well as for expansion and diversification.
“MSMEs have been the cradle of our industrial progress. With advent of economic liberalization no doubt our MSME sector has been able to showcase its manufacturing capabilities on the global business map, however to enhance our business shares at global stage & sustain there in need of tough business environment both at the domestic & international level”, Rahul Sahai, Vice-Chairman of CII J&K State Council said.
“It is imperative for us enhance our levels of competitiveness and also give due importance to technology & innovation”, he added.
Prof B C Sharma, Director, Business School, Jaspal Singh, Plant Head, Grauer & Weil India Ltd, Vinay Sawhney, DGM, J&K Bank, Rakesh Bhan, Chief Manager, State Bank of India, D K Gupta, Deputy Regional Head, Union Bank of India, Amrit Pal Singh, Regional Sales Manager, CRISIL Ratings attended the programme and interacted with the industrialists.
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